MSC to complete Messina deal by October

MSC to complete Messina deal by October

MSC’s acquisition of 49% stake in the Genoa-based conro shipping company Messina is expected to be sealed by October, reports Alphaliner.

MSC and Banca Carige signed a pre-agreement this month, fixing the main terms of the debt restructuring for Messina Group, including taking over the 49% stake in the company.

Messina owes Banca Carige over EUR400m from the purchase of eight 45,200 dwt conro vessels, delivered between 2011 and 2015.

Two of the vessels, the Jolly Cobalto and Jolly Titanio, have been chartered to MSC for deployment on the newly-launched Turkey – Adriatic roro service.

Jason Jiang

Jason worked for a number of logistics firms following his English degree, then switched this hands-on experience to writing and has since become one the most prolific writers on the diverse China logistics industry writing for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week. Jason’s access to the biggest shippers with business in China has proved an invaluable source of exclusives.

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